Welcome Finance Reclaiming Charges

[Dreamer1984]

Hiya

I am new to this site

Has anyone had any success in claiming there late payment charges & letter fees from welcome finance.

i wrote to them at the beginning of july asking for a full refund of all charges, they responded with a standard 8 weeks holding letter

I have looked through many a forum & can't seem to find any success with this & am wondering if I am wasting my time........I successfully reclaimed all of my ppi from them but this was through the fcsc & not directly with welcome

Anybody had any success with this?!

Thank You

[dogtired]

Re: Welcome Finance Reclaiming Charges

Did they take the ppi off your "debt" Almost five years into a dispute with this shower and this site has been a great help and a place I know I can let off steam! As you know they are only trying to collect on any alleged debt that they can. I doubt if you would get any actual cash but there are a lot of people on here that can help you.. In my case they " sold" on to DCA. The CAB have told me that Welcome have made massive errors and that the alleged debt is unenforceable, not heard from Welcome for three years and nothing from the DCA since March.
Good luck!

[Bill-K]

Re: Welcome Finance Reclaiming Charges

Hi and welcome (in the nicest sense of the word !!!) Dreamer. Welcome have not been an easy bunch to deal with, as you know. I can't say I know first-hand of any successful claims for penalty charges from Welscum, but I congratulate you on your successful PPI reclaim from them via the fscs.

I have noticed many lenders have tried to tell claimants that the FOS has no jurisdiction over their claims for varying reasons. Now, I have not read the FSA Policy Statement PS 10/12 from cover to cover, but as far as I understand, the FSA has jurisdiction over ALL claims from ALL firms who are regulated by the FOS. So - for example - if a firm is not dealing with a claim in accordance with the FSA dispute resolution guidelines, then the FOS has jurisdiction in this respect, and that firm is not 'excused' from their responsibilities to deal with claims properly and fairly, as they seem to believe. Sure - if it then transpires that the mis-selling rules are earlier ones which were set before PS10/12, then those rules will apply. But the FOS has jurisdiction initially by default, IMO, and it is for the FOS or the 'defendant' to subsequently decide if rules other than PS 10/12 should apply to any aspect of the claim.

The FOS have stated "In the majority of cases, we are likely to tell the financial business to put the consumer in the position they would have been in if they had taken out all of the loans without any mis-sold PPI - and to compensate them if they have been out-of-pocket in the meantime." Note that it is the CONSUMER who is put back to the position they would have been, and NOT the account. The FSA guidelines read:

" DISP APP 3.7.2 Where the firm concludes that the complainant would not have bought the payment protection contract he bought, and the firm is not using the alternative approach to redress (set out in DISP App 3.7.7 E to 3.7.15 E) or other appropriate redress (see DISP App 3.8), the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract. "

I have had some small successes with PPI reclaims, where I have shown that some penalty charges would not have been made if the PPI had not been sold. If you can show that this may be the case, then you may have a claim which the FOS will support. I am awaiting a FOS decision on such a claim, so I cannot say it will definitely be upheld until they decide. But, suffice it to say that they have tossed that claim around like a hot potato, and are dragging their heel with adjudicating on it !!!

[Turboman]

Re: Welcome Finance Reclaiming Charges

Pity you can't see my thread re Harriett on PCF--eh Bill?

[Ruby]

Re: Welcome Finance Reclaiming Charges

Dogtired, what sort of debt did/do you have with Welcome?

[dogtired]

Re: Welcome Finance Reclaiming Charges

Dogtired, what sort of debt did/do you have with Welcome?

A "secured" personal one at previous address.
Do not want to butt in on someone elses thread though

[Bill-K]

Re: Welcome Finance Reclaiming Charges

That was a whopper, Turbo, as I recall. Can you briefly summarise it here, and post a link ?

[Dreamer1984]

Re: Welcome Finance Reclaiming Charges

Thank you for all of your responses

The loan was a personal loan and was cleared in full last year

I got 2.5k from fcsc transferred straight into my bank for ppi claim

There was at times of the loan were I missed payments due to been in hospital, the ppi would never of covered this because I've always had the illness but I didn't know I had the ppi in the 1st place and no one at welcome said use this.........i feel like a lot of the charges were extremely harsh & totally irrelevant.

[dogtired]

Re: Welcome Finance Reclaiming Charges

Well done! Hope some one can give a pointer to reclaiming the charges.

[dogtired]

Re: Welcome Finance Reclaiming Charges

Just been on the phone to them via FSCS.
More total rubbish from them saying they had not heard from me regarding the offer made last year (rejected as they wanted to open a new account) and that I would need to contact some one called Independent Financial Corp ?
No idea who they are tried a goggle and no joy!

[Dreamer1984]

Re: Welcome Finance Reclaiming Charges

did they want to give you the ppi back but take it of your loan from welcome & make the account active again with welcome?!
The IFC is the bank of the world & more of a business bank......ie agriculture, mining, transportation so unsure as to why you would need to speak to them!!!!

[dogtired]

Re: Welcome Finance Reclaiming Charges

did they want to give you the ppi back but take it of your loan from welcome & make the account active again with welcome?!
The IFC is the bank of the world & more of a business bank......ie agriculture, mining, transportation so unsure as to why you would need to speak to them!!!!

They wanted to and seemed to have the idea that it was a "new" loan but we turned it down.! As for IFC as said total rubbish! Going back to CAB at the end of the week.